Property group Arrowhead plans to raise equity of R500m

Property group Arrowhead (AWA) announced on Wednesday it plans to raise equity of R500m.

The equity raise would be implemented through an accelerated book-build process‚ which was now open. The company said it reserved the right to close it at any time. Applications were subject to a minimum subscription application of R1m per applicant.

The new linked units‚ when issued‚ would be credited as fully paid and would rank pari passu in all respects with the existing linked units.

Pricing and allocations would be announced as soon as practicable following the closing of the book-build.